Parliament is considering a proposal to unify the banks vulnerable to bankruptcy for "protection"

Tomorrow Press / Baghdad parliamentary Finance Committee announced on Thursday, the existence of a new formula to unify the banks and private banks vulnerable to bankruptcy through the integration of all banks or three in one new bank, as pointed out that it needs to be a new law for banks to do so, indicating it is working with parliamentary committees in the House of Representatives for the purpose of coordination with the General Secretariat of the Council of Ministers to send the Banking Act

Said committee member Abdul Qader Mohammed's (tomorrow's Press), on Thursday, "There is a new version of the unification of the banks and the integration of all banks or three Bank One to avoid the problem of bankruptcy," noting that "this formula strengthens the work of banks, rather than be declared bankrupt." He continued Mohammed that "that formula considers a proposal to rescue the banks," pointing out that "if required, is a law in the House ofRepresentatives and the legislation and address the bankruptcy of some banks."And that "the Commission is working the work of parliamentary committees in the House of Representatives for the purpose of coordination with the GeneralSecretariat of the Council of Ministers To send the Banking Act and amended and passed in the House ofRepresentatives. "

He was an economic advisor to the Prime Minister, the appearance of Mohammed Saleh, has explained in a press statement earlier that "government deal was limited only with government banks and neglected private banks, this gives inferiority look for private banks approved, referring to" provide options for government institutions deposit in private banks in accordance with the guarantees legal Lima guarantees the protection of public money. "Saleh said" the Ministry of Finance was committed government departments not to deal with private banks due to the exploitation of a banks and government funds in financial speculation, pointing out that he can not be private banks punished because of my family and one bank error ". The Iraqi banking system consists of 54 banks, including seven state banks, one of them an Islamic newly established, and 23 private commercial bank and 9 Islamic banks and 15 branches of foreign banks. In addition to a representative office of the foreign bank and one. There are many institutions that do some banking, of which 34 money transfer company, and about 2000 foreign exchange company belonging to the banks, with the company to secure loans, and the company for financing small and medium enterprises, with the two companies for services of electronic banking and smart card, in addition to about 800 branch subsidiary banks and distributed all over the governorates of Iraq.